☕ MaaS

Good morning. So ChatGPT just released their iPhone app in the App Store to help you look smarter. The bad news? It's limited to the US for now. So to our 3 or 4 US-based readers, enjoy!

May 19, 2023

Good morning. So ChatGPT just released their iPhone app in the App Store to help you look smarter. The bad news? It's limited to the US for now. So to our 3 or 4 US-based readers, enjoy!

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ps. if this was forwarded to you, you can sign up for LOI at letterofintent.com.au

LOI Subscriber #TBD

MARKET MOVERS

*Stock data as of the market close. Commodities and crypto data in USD.

Market News: Xero clocked another record year as it grew revenue +28% and subscribers by +14%. Where it really crushed it though was at the Adj. EBITDA line with a +45% increase to $302m.

The company cut hundreds of jobs recently and wrote down a number of investments as its new CEO took stock of the company in the new era for tech.

THE QUICK SYNC

  • Beijing lifts trade ban, reveals plans for PM to visit China. (AFR)

  • PwC's global bosses to seize oversight of scandal-hit Australian team. (FT)

  • Miners, battery makers & refineries to share $50m to power energy transition. (SMH)

  • The cigar-rolling, NZ schooled Harvard grad set to be Thailand’s PM. (AFR)

  • Australia’s wagyu giant eyes European, Middle Eastern gourmets as profits jump. (SMH)

  • Carl Icahn admits he was wrong to take a huge short position that lost $9bn. (MW)

  • Punk-rock soccer club rejects lure of private equity billions. (AFR)

TRADING FLOOR

M&A:

  • Major St Barbara shareholder, Raphael Lamm, urges board to open up the sale process for Gwalia mine to suitors including Silver Lake Resources. (AFR)

  • Quadrant has secured exclusive due diligence for electronics market Circuitwise. (AFR)

  • PEP and Igneo are the only two parties in the running for the $400m auction of LMS Energy. (AFR)

  • Fortescue has Citi onboard to buy Alinta Energy’s WA energy assets. (The Australian)

  • KKR is expected to be close to restructuring its Genesiscare investment . (The Australian)

Capital Markets:

  • CBA raised $1.6bn for its latest hybrid bond offer. (The Australian)

  • UBS ran a non-deal roadshow for carbon trading platform, Xpansiv. (AFR)

  • Abacus Property confirmed it would raise $330-350m via a pro-rata offer. (AFR)

  • ImpediMed was drumming up interest in a $20m placement. (AFR)

VC:

  • Arlula, a satellite imagery startup, raised $2.2m in a round led by Main Sequence. (Australian)

  • Finspo, an online mortgage broker, raised $2.55m in Series D funding round. (SMH)

  • Cannaponics, a medical cannabis company, raised $5m via a crowdfunding round. (BNA)

  • FLINTPro, a carbon accounting startup, raised a $13.5 Series A led by Understorey Ventures. (BNA)

Others:

  • UBS' acquisition of Credit Sussie changes Australia’s wealth game. (AFR)

TOGETHER WITH INTRALINKS

Over the past few years we’ve certainly made a name for ourselves when it comes to networking events.

Whether it be our Casino night, the Australian Open, Strategic Insights event or our end-of-year Island Event, Intralinks knows how to throw a party.

We’ve got some exciting client events coming up over the next few months, so if you’re interested in attending, please register your interest HERE or alternatively reach out to your Intralinks relationship manager.

We look forward to seeing you soon!

THE WATERCOOLER

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